The Stock Market Crash of 1929 had a devastating impact on the Great Depression, which lasted through the 1930s. The crash marked the beginning of a severe economic downturn, leading to massive unemployment, bank failures, and widespread poverty. As investors lost confidence, consumer spending plummeted, exacerbating economic decline. Financial institutions collapsed, resulting in a credit crunch that stifled business investments. The repercussions were felt globally, as countries faced plummeting trade and economic recession. The government responded with initiatives like the New Deal in the United States, aimed at economic recovery and reform that fundamentally reshaped the role of the federal government in American life.